Bass: Sale goes through on Bijou Shopping Center

SOUTH LAKE TAHOE, Calif. - U.S. Bank, Tahoe Wellness Cooperative (TWC) and Patricia Olson won't be in court Friday afternoon as originally scheduled.

"The bank is satisfied," said Cody Bass, executive director of TWC. "They have withdrawn receivership because they no longer own the building."

Proceedings were scheduled after the bank said Olson defaulted on her loan and they weren't paid when the center changed hands, which gave the keys to Bass in July 2018. Bass paid for the building but since his income is generated from cannabis, they wouldn't accept it since federal laws still find cannabis illegal.

"The lien was Patty's to pay off," said Bass. "I went to pay off the note and the bank wouldn't take the money due to the cannabis/dispensary affiliation."

Bass said he has been working with the bank since then and a finance company finally had to step in and pay the funds to the bank which they have now accepted, Bass said.

Olson and the bank had been in ongoing bankruptcy negotiations since June 2017. According to records, a loan was issued in 2003 in the amount of $950,000, with the bulk of that still owing when Bass made the offer on the building which houses TWC.

Part of the bankruptcy dealings are still in court and involve Bob Hassett and Olson. Hassett had reportedly also put in an offer on the Bijou Shopping Center through bankruptcy. It is unknown at this time if that case could change Bass's ownership.

Patty moved to South Lake Tahoe in 1950 and was instrumental in in the creation of Barton Memorial Hospital. She was a founding member of the Barton Auxiliary and helped organize the Auxiliary's first fundraiser for the hospital. She hosted many other Barton fundraising events at Young's Bijou Lodge, which she and her husband Neal Olson owned and operated. The former lodge is now home to the Bijou CVS and neighboring businesses. Neal passed away in 1998, leading Patty to raise funds for the Neal Olson Playroom at Barton Memorial Hospital.